Affordability Continues to Improve With Interest Rate Cuts

March 24th,2014

The latest Adelaide Bank/REIA Housing Affordability Report shows that housing affordability has now been improving for the past two years, with the proportion of income required to meet repayments at 28.7% - its lowest in a decade.

Real Estate Institute of Australia President, Peter Bushby says, “With the exception of the Northern Territory, all states and territories recorded improvements over the quarter, the largest in Queensland where the proportion of income required in order to meet loan repayments dropped by 1.9 percentage points to 26%.”